Allianz Asset Management GmbH increased its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM – Free Report) by 10.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,546,383 shares of the company’s stock after purchasing an additional 150,841 shares during the period. Allianz Asset Management GmbH’s holdings in ZIM Integrated Shipping Services were worth $24,881,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Aigen Investment Management LP increased its holdings in ZIM Integrated Shipping Services by 5.4% during the first quarter. Aigen Investment Management LP now owns 16,842 shares of the company’s stock worth $246,000 after buying an additional 867 shares during the last quarter. Autumn Glory Partners LLC increased its holdings in shares of ZIM Integrated Shipping Services by 6.0% in the second quarter. Autumn Glory Partners LLC now owns 35,500 shares of the company’s stock valued at $571,000 after purchasing an additional 2,000 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of ZIM Integrated Shipping Services in the first quarter valued at $30,000. State of Wyoming increased its holdings in shares of ZIM Integrated Shipping Services by 11.3% in the first quarter. State of Wyoming now owns 25,670 shares of the company’s stock valued at $375,000 after purchasing an additional 2,602 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of ZIM Integrated Shipping Services by 8.2% in the first quarter. Royal Bank of Canada now owns 40,827 shares of the company’s stock valued at $596,000 after purchasing an additional 3,102 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors and hedge funds.
ZIM Integrated Shipping Services Trading Up 1.0%
ZIM stock opened at $13.46 on Monday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.20. The company’s 50-day simple moving average is $14.27 and its 200 day simple moving average is $15.25. ZIM Integrated Shipping Services Ltd. has a 52 week low of $11.03 and a 52 week high of $30.15. The company has a market capitalization of $1.62 billion, a PE ratio of 0.81 and a beta of 1.72.
ZIM Integrated Shipping Services Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, September 2nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.24 annualized dividend and a yield of 1.8%. ZIM Integrated Shipping Services’s dividend payout ratio is currently 1.44%.
Wall Street Analyst Weigh In
Several equities analysts have commented on ZIM shares. JPMorgan Chase & Co. upped their price objective on shares of ZIM Integrated Shipping Services from $9.80 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, September 30th. Wall Street Zen downgraded shares of ZIM Integrated Shipping Services from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Citigroup reiterated a “sell” rating on shares of ZIM Integrated Shipping Services in a report on Monday, August 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, August 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ZIM Integrated Shipping Services in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, ZIM Integrated Shipping Services presently has a consensus rating of “Strong Sell” and a consensus price target of $14.62.
Check Out Our Latest Report on ZIM
ZIM Integrated Shipping Services Profile
ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.
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